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Tag Archives: farm economy

REVIEWING 2015

Last January ag economists Brent Gloy and David Widmar wrote about the 9 questions production agriculture would face in 2015. These questions were the greatest unknowns that they foresaw the industry facing at the time. Click here to check out how we fared.

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JOB CUTS

Citing the downturn in the farm economy, Pioneer and Monsanto will forgo nearly $21 million in Iowa tax incentives to avoid their goal of creating about 350 jobs.

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FARM ASSETS CONFERENCE

Check out FarmWeekNow.com for complete coverage of the Farm Assets Conference in Normal. We have interviews with U of I experts on farmland prices, how to budget for 2016, and an interview with the new ICGA president.

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MACHINERY OUTLOOK

The Wall Street Journal says Deere plans to report its fiscal fourth-quarter results on Wednesday. The company is expected to offer a sales outlook that will set the tone for the farm-machinery industry in 2016. Many analysts see a big stepdown in Deere’s forecast that would signal a prolonged slump for the sector.

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FARM FINANCES

Banker surveys by the Federal Reserve Banks in Kansas City, Chicago, and St. Louis all show deteriorating farm credit conditions around the Midwest.  Kansas City is the most pessimistic among the banks, reporting a significant decline in credit conditions during the third quarter of 2015. St. Louis and Chicago appear more sanguine.

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AG MERGERS

Some of the world’s largest agricultural companies are looking to combine with one another as three years of shriveling crop prices have pressured profits, in what would be the industry’s first big shake-up in at least a decade. The Wall Street Journal says DuPont/Pioneer, Syngenta and Dow are discussing possible deals.

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CASH RENTS

60% of ProFarmer members say they’ll tough out high cash rent rates yet again in 2016, according to a new survey. About 40% of those surveyed said they absolutely or probably would give up land next year if rents are too high.

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MONSANTO CUTS

Monsanto says it plans to restructure and cut about 2,600 jobs as its loss widened in its latest quarter, hurt again by weaker corn-seed sales.

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AG FINANCES

The Kansas City Federal Reserve Bank recently published an article on farm debt risk due to increased use of operating loans this year.  While overall risk remains low, the bank says it’s seeing use of operating loans this year soar 25% above last year’s levels.  It may be an early sign of financial stress.

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MONSANTO TRIMS

Monsanto sees the current downturn in the farm economy lingering beyond the current year, and Dekalb plans to trim its own spending in response.

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